When you have been utilizing your Tax-Free Financial savings Account (TFSA) to develop your wealth steadily and safely, dividend investing should sit excessive in your precedence record. Dividend revenue provides a way of progress even when markets really feel unsure, and over lengthy intervals, that revenue can compound into one thing vital. The secret is selecting basically robust shares with enterprise fashions that assist reliable payouts and constant progress.
Utilities and energy producers usually match that position nicely, particularly as their long-term contracts and controlled property increase their money flows. On this article, I’ll discuss two high Canadian dividend shares that may very well be gold for TFSA buyers seeking to lock in dependable revenue for the long run.
Fortis inventory
Talking of reliable payouts, Fortis (TSX:FTS) may very well be a logical place to start out, particularly given its regulated utility mannequin and long-term progress visibility. The corporate primarily operates electrical and gasoline utilities throughout Canada, the US, and the Caribbean, offering important providers that stay in demand no matter financial circumstances.
Fortis inventory just lately traded round $74 per share, giving it a market capitalization of roughly $37.4 billion. During the last 12 months, the inventory has jumped practically 19% with the assistance of its deal with regular execution. It additionally presents an annualized dividend yield of three.6%, which inserts nicely with a long-term TFSA revenue technique.
Notably, the corporate’s latest monetary efficiency has been supported by constant fee base enlargement and disciplined capital investments. Within the third quarter final 12 months, Fortis delivered adjusted earnings of $0.87 per share, increased on a YoY (year-over-year) foundation. This progress was primarily pushed by fee base will increase throughout a number of utilities and contributions from its main capital tasks, with a stronger U.S. greenback additionally offering a tailwind. Whereas prices tied to asset tendencies created some short-term stress, the underlying enterprise continued to look robust.
What strengthens Fortis’s long-term progress outlook is its just lately introduced $28.8 billion capital plan for 2026 via 2030, which helps an anticipated 7% annual fee base progress. The corporate additionally expects dividend progress of 4% to six% yearly via 2030. For TFSA buyers centered on locking in revenue that steadily rises over a long time, this mix of regulated progress and predictable dividends retains Fortis firmly within the TFSA gold class.
Capital Energy inventory
Whereas Fortis highlights regulated stability, Capital Energy (TSX:CPX) may develop your TFSA revenue via contracted energy era and rising money flows. This Edmonton-based agency owns and runs energy era and vitality storage property throughout North America, with an growing deal with versatile era backed by long-term agreements.
Following a 12% run during the last 12 months, CPX inventory just lately traded close to $58 per share, giving it a market cap of about $9.2 billion. The corporate additionally presents a sexy annualized dividend yield of 4.7%, making it interesting for income-focused TFSA buyers.
Within the newest quarter resulted in September 2025, Capital Energy generated adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) of $477 million and adjusted funds from operations of $369 million, backed by increased contracted money flows and strong working efficiency.
Lengthy-term progress initiatives add additional power to its outlook. Lately, Capital Energy secured a brand new long-term contract on the Midland Cogeneration Enterprise extending to 2040, including years of incremental contracted income with improved pricing. The corporate additionally commissioned 170 megawatts of battery storage in Ontario, with contracts working via 2047, bettering long-term money circulation visibility. Given these strong fundamentals, Capital Energy may proceed to behave as TFSA gold for buyers searching for sturdy revenue supported by long-duration contracts.